Govt Extends Last Date to Exchange Discontinued Bearer Prize Bonds

Last date to change discontinued bonds:

State Bank has issued a circular on 30 March 2022 to further extend the last date to exchange bif denomination discontinued prize bonds.

The discontinued Prize Bonds include Rs.7500, 15000, 25000 and 40,000 which were discontinued in the following dates

Rs.40,000 Prize Bond was discontinued on 24th June 2019.

Rs.25000 Bearer Prize Bond was discontinued on 10 December 2020.

Rs.7500 and Rs.15000 bearer Prize Bonds were discontinued on 27 April 2021.

The above 4 discontinued bearer Prize bonds’ the last date to exchange, redeem and convert was 31 March 2022.

The State Bank of Pakistan has issued a circular dated 30 March 2022 to further extend the last date to exchange, redeem and encash this four bearer and discontinued bonds till 30 June 2022.

SBP has many times extended the last date to exchange these bonds because many people hold these bearer bonds and after the last date these bonds will become just a piece of paper without having a monetary value.

State Bank has announced three ways one can exchange their bearer and discontinued prize bonds.

1- Transfer into Bank Accounts

FIll a deposit slip if you have a bank account in any commercial bank and immediately funds will transfer into your bank account.

2-Exchange with Premium Prize Bonds

You may exchange your bearer bonds which have been discontinued the premium prize bonds of denominations Rs25000 and Rs40,000. You will have to link your bank account and these bonds will be registered against your CNIC. the profit and the prize money will be credited into your bank account linked with it.

3-Exchange with National Saving Certificate

You may exchange your old bearer discontinued bonds with National saving certificates like defense saving certificates and special saving certificates.

You will be given a handsome profit if you purchase a National Saving certificate against your bearer bonds.

Access SBP circular at this Link for further details

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